Oil prices at the right level for everyone

O

Oil prices are currently at a desirable level for everyone. That is what Kuwait’s oil minister, Khalid al-Fadhil said on Sunday in the local newspaper Al-Rai. According to al-Fadhil, a price of 60 to 70 dollars per barrel is good for both producers and consumers.

Since the beginning of this year, oil prices have risen sharply, partly due to the production cutback of OPEC oil cartel, of which Kuwait is also a member. The OPEC did this together with allies like Russia. Saudi Arabia plans to further reduce production in order to boost prices.

US President Donald Trump called OPEC earlier not to slow down the production. He thinks that prices are rising too fast.


By: Oliver I. Kjeldsen

Oliver I. Kjeldsen has a corporate finance and extensive expertise in company audit. He grants us amazing insights on taxation, international affairs and friendly advice on nearly any topic of interest. His email is [email protected]

Add comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

By Maurice Eisma

Recent Posts

Categories

About us

EconomicInform, EconomicInform.com is a product of EconomicInform LLC. We sincerely believe that economics is one of the most interesting and most underappreciated – in terms of getting some enjoyment out of reading the subject articles – sciences. More on that - at the link. Feel free to drop us a line.